Retention of title (standard, or simple) clause

The following Commercial precedent provides comprehensive and up to date legal information covering:

  • Retention of title (standard, or simple) clause

Retention of title (standard, or simple) clause

    1. 1

      Title and risk

      1. 1.1

        Risk in the Goods will pass to the Buyer [on [completion of] delivery OR when the Goods are transferred to the carrier].

      1. 1.2

        Title to the Goods will pass to the Buyer once the Seller has received [payment in full for the Goods OR payment in full for all debts owed by the Buyer to the Seller (including payment for the Goods) at any given time.]

      1. 1.3

        Until title to the Goods has passed to the Buyer, the Buyer will:

        1. 1.3.1

          hold the Goods as bailee for the Seller;

        1. 1.3.2

          store the Goods separately from all other material in the Buyer’s possession;

        1. 1.3.3

          take all reasonable care of the Goods and keep them in reasonable condition;

        1. 1.3.4

          insure the Goods: (i) with a reputable insurer (ii) from the date of delivery (iii) against all risks (iv) for an amount at

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